Atlas Brown Inc. Lowers Position in Philip Morris International Inc. (NYSE:PM)

Atlas Brown Inc. cut its holdings in Philip Morris International Inc. (NYSE:PM) by 10.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,166 shares of the company’s stock after selling 1,085 shares during the period. Atlas Brown Inc.’s holdings in Philip Morris International were worth $869,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Hoylecohen LLC raised its position in shares of Philip Morris International by 13.4% in the first quarter. Hoylecohen LLC now owns 5,700 shares of the company’s stock worth $506,000 after buying an additional 672 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Philip Morris International in the first quarter worth $258,000. D. E. Shaw & Co. Inc. raised its position in shares of Philip Morris International by 889.9% in the first quarter. D. E. Shaw & Co. Inc. now owns 7,622 shares of the company’s stock worth $676,000 after buying an additional 6,852 shares in the last quarter. Gladstone Institutional Advisory LLC purchased a new stake in shares of Philip Morris International in the first quarter worth $325,000. Finally, Axiom Investment Management LLC purchased a new stake in shares of Philip Morris International in the first quarter worth $126,000. 74.90% of the stock is owned by institutional investors.

Shares of NYSE:PM traded up $0.38 on Thursday, reaching $90.03. 5,066,513 shares of the company traded hands, compared to its average volume of 4,370,159. The business’s 50-day simple moving average is $96.06 and its 200 day simple moving average is $98.38. Philip Morris International Inc. has a 52 week low of $75.42 and a 52 week high of $106.51. The stock has a market capitalization of $140.16 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 1.84 and a beta of 0.83.

Philip Morris International (NYSE:PM) last posted its earnings results on Monday, October 18th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.03. The company had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Philip Morris International had a negative return on equity of 98.17% and a net margin of 11.11%. Philip Morris International’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $1.42 earnings per share. On average, analysts expect that Philip Morris International Inc. will post 6.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 14th. Investors of record on Wednesday, September 29th were paid a $1.25 dividend. The ex-dividend date was Tuesday, September 28th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 5.55%. Philip Morris International’s dividend payout ratio (DPR) is presently 86.81%.

Separately, Deutsche Bank Aktiengesellschaft raised their price target on Philip Morris International from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 19th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $104.86.

Philip Morris International Company Profile

Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.

Further Reading: Intrinsic Value

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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